Analysts Set Expectations for LPL Financial Holdings Inc.’s Q1 2024 Earnings (NASDAQ:LPLA)

LPL Financial Holdings Inc. (NASDAQ:LPLA) – Research analysts at William Blair issued their Q1 2024 earnings per share (EPS) estimates for shares of LPL Financial in a report issued on Wednesday, April 10th. William Blair analyst J. Schmitt expects that the financial services provider will post earnings of $3.76 per share for the quarter. The consensus estimate for LPL Financial’s current full-year earnings is $15.55 per share. William Blair also issued estimates for LPL Financial’s Q4 2024 earnings at $4.36 EPS and FY2025 earnings at $19.30 EPS.

A number of other equities research analysts have also recently issued reports on LPLA. UBS Group upped their target price on LPL Financial from $260.00 to $267.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Morgan Stanley upgraded LPL Financial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $254.00 to $315.00 in a research note on Tuesday, April 9th. Barclays raised their target price on LPL Financial from $302.00 to $312.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Raymond James began coverage on LPL Financial in a research note on Thursday, April 4th. They issued an “underperform” rating for the company. Finally, JPMorgan Chase & Co. raised their target price on LPL Financial from $254.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $268.36.

LPL Financial Stock Up 0.7 %

Shares of LPL Financial stock opened at $263.00 on Monday. The stock has a market capitalization of $19.65 billion, a P/E ratio of 19.27, a PEG ratio of 1.27 and a beta of 0.84. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.80. The stock has a 50 day moving average price of $261.60 and a two-hundred day moving average price of $240.18. LPL Financial has a 12-month low of $179.00 and a 12-month high of $274.35.

LPL Financial (NASDAQ:LPLA) last announced its earnings results on Thursday, February 1st. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.18. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. LPL Financial had a return on equity of 57.68% and a net margin of 10.61%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.21 earnings per share.

LPL Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, March 11th. LPL Financial’s dividend payout ratio (DPR) is currently 8.79%.

Insiders Place Their Bets

In other LPL Financial news, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total transaction of $2,563,500.00. Following the transaction, the chief executive officer now owns 137,044 shares in the company, valued at $35,131,229.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In other LPL Financial news, Director Kabir Sethi sold 1,300 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $266.50, for a total transaction of $346,450.00. Following the transaction, the director now owns 10,245 shares in the company, valued at $2,730,292.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Dan H. Arnold sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $256.35, for a total value of $2,563,500.00. Following the transaction, the chief executive officer now owns 137,044 shares in the company, valued at approximately $35,131,229.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,151 shares of company stock worth $15,911,088. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On LPL Financial

Hedge funds have recently modified their holdings of the business. Hudson Bay Capital Management LP raised its position in shares of LPL Financial by 42.9% during the third quarter. Hudson Bay Capital Management LP now owns 50,000 shares of the financial services provider’s stock worth $11,882,000 after purchasing an additional 15,000 shares during the period. Asset Management One Co. Ltd. raised its position in LPL Financial by 15.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 34,863 shares of the financial services provider’s stock valued at $7,965,000 after buying an additional 4,686 shares during the last quarter. NewEdge Wealth LLC raised its position in LPL Financial by 228.6% in the 4th quarter. NewEdge Wealth LLC now owns 55,827 shares of the financial services provider’s stock valued at $12,707,000 after buying an additional 38,839 shares during the last quarter. Nordea Investment Management AB raised its position in LPL Financial by 3.6% in the 4th quarter. Nordea Investment Management AB now owns 5,629 shares of the financial services provider’s stock valued at $1,287,000 after buying an additional 198 shares during the last quarter. Finally, Reinhart Partners LLC. raised its position in LPL Financial by 6.2% in the 4th quarter. Reinhart Partners LLC. now owns 74,620 shares of the financial services provider’s stock valued at $16,985,000 after buying an additional 4,333 shares during the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.

About LPL Financial

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.